FXPrimus is a well-known Forex and CFD broker with over 12 years of experience offering trading services to traders in 140 countries. This broker is regulated by CySEC and VFSC financial authorities and provides over 200 tradable instruments.
This FXPrimus review will delve into the various aspects of FXPrimus, from its markets and instruments to account types and copy trading features, helping you decide if it's the right broker for your trading journey.
FXPrimus General Information and Regulatory status
FXPrimus has quickly risen to prominence in the online trading sphere. The broker offers a diverse range of financial instruments, including Forex, Equities, Indices, and Precious Metals. Here's what you need to know about FXPrimus:
- Regulated by the Cyprus Securities and Exchange Commission (CySEC) (license number HE 337614)
- Regulated by Vanuatu Financial Services Commission (VFSC) (icense number 14595)
- Terry Thompson is the CEO of Fxprimus
- FXPrimus has over 300,000 active clients
FXPrimus Broker Summary
Let's take a closer look at what FXPrimus has to offer:
Broker | FXPrimus |
Account Types | Classic, Pro, Zero |
Regulating Authorities | CySEC, VFSC |
Based Currencies | USD, EUR, GBP, SGD & PLN |
Minimum Deposit | $15 |
Deposit Methods | Visa/MasterCard, Unionpay, Bank wired, Skrill, BTC, Fasapay, Trustpay, SafeCharge, Emerchantpay |
Withdrawal Methods | Visa/MasterCard, Unionpay, Bank wired, Neteller, Skrill, BTC, Fasapay, Trustpay, SafeCharge, Emerchantpay |
Minimum Order | 0.01 Lot |
Maximum Leverage | 1:1000 |
Investment Options | Copy trading |
Trading Platforms & Apps | MT4, MT5, cTrader, WebTrader |
Markets | Forex, indices, commodities, crypto, equities, energies, metals, stocks |
Spread | Floating from 0.0 pips |
Commission | From $5 |
Orders Execution | Market |
Margin Call/Stop Out | 30%/30% |
Trading Features | Demo account, Forex calculator |
Affiliate Program | Yes |
Bonus & Promotions | Deposit bonus, cashback bonus |
Islamic Account | Yes |
PAMM Account | Yes |
Customer Support Ways | Email, live chat, social media |
Customer Support Hours | 24/5 |
Restricted Countries | USA, Australia, Iran, North Korea, and Belgium |
FXPrimus Broker Account Types Overview
FXPrimus offers a range of account types to suit different trading styles and experience levels:
Account types | Classic | Pro | Zero |
Minimum deposit | $15 | $500 | $1000 |
Minimum trading volume | 0.01 Lot | 0.01 Lot | 0.01 Lot |
Maximum Leverage | 1:1000 | 1:500 | 1:500 |
Spreads | Floating from 1.5 pips | Floating from 0.3 pips | Floating from 0 pips |
Commission | 0$ | $8 for on MT5 and $10 on MT4 | 5$ per lot per side |
Theis wide range of account types caters to traders with different trading goals and preferences.
FXPrimus also offers a demo account for beginner and professional traders to perform various trading strategies in a risk-free environment.
FXPrimus Broker Account Opening & Verification
Getting started with FXPrimus is straightforward. Here's a step-by-step guide:
- Visit the FXPrimus website and click "Register"
- Choose between Individual, joint, or Corporate account
- Fill in personal details
- Verify your email address
- Submit ID verification document (passport, national ID, driverās license), and address verification document (utility bill, bank statement)
Remember, traders who deposit over $2000 can trade without KYC, but withdrawals require verification.
FXPrimus Trading Platforms and Applications
FXPrimus offers a variety of trading platforms to cater to different trader preferences:
MetaTrader 4
MT4 is an industry-standard platform known for its user-friendly interface and extensive customization options. This platform offers advanced charting tools, technical analysis, and automated trading capabilities through Expert Advisors (EAs).
Links:
MetaTrader 5
MT5 is the advanced version of MetaTrader 4 with additional features and improved functionality. This platform offers over 30 technical indicators and 21 timeframes.
Links:
cTrader
CTrader is a modern platform offering advanced charting tools and an easy to understand interface. This platform has customizable charts and automated trading features.
Links:
FXPrimus Spreads and Commissions
FXPrimus offers competitive pricing structures across its account types:
Account types | Spread | Commission |
Classic | From 1.5 Pips | No commission |
Pro | From 0.3 Pips | 8$ on MT5 and 10$ on MT4 |
Zero | From 0.0 Pips | 5$ |
While the Classic account may have higher trading costs, the PRO and ZERO accounts offer tight spreads that can benefit active traders. The transparent fee structure allows traders to accurately calculate their trading costs.
FXPrimus other fees:
- No inactivity fee
- Low currency conversion fee
- No deposit or withdrawal fee
FXPrimus Broker Deposit & Withdrawal Methods
FXPrimus supports various deposit and withdrawal methods to accommodate traders worldwide:
- Bank Wire Transfer
- Credit/Debit Cards (Visa, Mastercard)
- E-wallets (Neteller, FasaPay)
- UnionPay
- SafeCharge
- Bitcoin
- TrustPay
Key points about FXPrimus deposits and withdrawals:
- Minimum withdrawal: $100
- Bank wire withdrawals processing time: 2-5 working days
- Withdrawal fees: No fees; All coverd by FXPrimus
Copy Trading & Investment Options Offered on FXPrimus Broker
FXPrimus offers copy trading features, allowing less experienced traders to replicate the strategies of successful traders:
- Easy-to-use interface for selecting and copying traders
- Real-time updates on copied trades
- Ability to customize risk levels and investment amounts
- Diverse range of traders to choose from
FXPrimus has a 4.2 trust score on the Trustpilot websiteCopy trading can be an excellent way for novice traders to learn and potentially profit from more experienced traders' strategies.
FXPrimus Bonuses and Promotion Plans
FXPrimus offers several attractive bonuses and promotions:
- 100% bonus on all deposits up to $20,000 (minimum deposit $200)
- Affiliate program
- 8% cashback up to $20,000 (from $4 to $8 per traded lot)
These promotions can provide additional trading capital and incentives for both new and existing clients.
FXPrimus Broker Customer Support
FXPrimus provides customer support through Email and live chat. Traders can send their inquiries to support@fxprimus.com and receive proper help from FXPrimus expert client support. It is also worth noting that the live chat support is active 24 hours, Monday through Friday.
FXPrimus Trust Scores and User Reviews
FXPrimus Trustpilot has received generally positive reviews on the website. FXPrimus received 4.2 stars out of 5 from over 80 reviews on this platform. while this rating is excellent, the high number of 1-star reviews (33%) is concerning.
Traders are advised to create a demo account and test out FXPrimus broker offering before depositing funds and starting their trading journey on this broker.
TF Expert Suggestion
Founded in 2009, FXPrimus stands as a solid choice for traders seeking a regulated broker with a variety of trading platforms and competitive spreads. Its strengths lie in its regulatory compliance with CySEC and VFSC regulations, diverse account types (Classic, Pro, Zero), and advanced trading tools.
However, high minimum deposit on Zero accounts and restricted access in some countries, including USA, may be drawbacks for some traders. As with any financial decision, it's crucial to thoroughly research and consider your individual trading needs before choosing a broker.
